Latest Price and Trends for Truck Components
Trends for Truck Components
Are you looking for the latest price and trends for truck components? If so, you’ve come to the right place. In this article we’ll discuss the current market trends and price estimates for various truck parts. In addition to truck parts, we’ll discuss the latest trends in freight rates and used truck sales. You may also be interested in the latest price trends for trailers and axles. The prices and trends for these items can vary greatly and are subject to change.
As the shortage of truck parts continues to affect truck build rates, we can expect a gradual increase in the prices of trucks. Truck parts are becoming more expensive, but this shortage is not due to a lack of demand. The demand for heavy-duty trucks continues to outstrip supply. The U.S. economy has kept the truckload freight rate high. Meanwhile, container shipping is experiencing strong price increases. Higher transportation costs affect the price of consumer goods and general cost inflation.
Online parts sales have become more profitable than offline parts sales. With the help of the Internet, you can now buy truck parts from any location. Online retailers can offer discounts, as well as shipping rates. Additionally, you can even make more money by selling truck parts online than in brick and mortar stores. There are numerous benefits of doing business online, so it is highly recommended to do so. Just make sure you keep up with the latest trends and price trends in truck parts and spare parts.
Latest Price and Trends for Truck Components
The average horsepower of a truck has increased 7% in the past decade. In addition, fuel economy has increased 20%. These factors make truck ownership more affordable. Moreover, fuel prices have been stable since 2010. The healthy new-truck sales have contributed to aftermarket parts sales. In fact, nearly two-thirds of specialty-equipment spending goes toward pickup trucks. The growing popularity of overlanding is also influencing the sales of truck parts.
According to MacKay, parts prices will rise by 1.5% in 2019, and the aftermarket will grow by another 1.2% in 2020. The outlook for truck parts is positive, with sales of truck parts reaching $33.4 billion in 2021, $34.6 billion in 2022, and $37.7 billion in 2024. In 2024, the operating population of Class 6 trucks will reach 964,000. Meanwhile, the number of Class 7 trucks will decrease by 65% over the same period. While Class 8 trucks will rise from 3.54 million to 3,72 million units by 2024.
The heavy-duty vehicle aftermarket has been boosted by rapid digitalization. Combined with advanced tracking technologies, truck manufacturers are now able to monitor the replacement parts and reduce the risks of an untimely breakdown. Stringent emission laws have also catalyzed the growth of the market. Further, rising consumer awareness is also contributing to the growth of the heavy-duty aftermarket. The demand for heavy-duty aftermarket parts continues to grow as the global population becomes more aware of its environmental impact.